The law enforcement bodies are not doing a bad job presently in finding out the fake note gangs. But it is very important that they should maintain and step up their vigil with no slag in their activities

Threat posed by fake currency notes

Fake Bangladesh currency notes have again surfaced in the markets ahead of the Eid ul-Fitr. According to media reports, RAB and the detective branch of police busted several factories that produced such notes. But the law enforcers are of the opinion that many gangs, about 15 to 20, are still active in producing counterfeit notes in the capital city alone and a large number of such notes are already in circulation. This situation certainly demands that people are made fully aware of the distinctive features that separate the genuine notes from the fake ones.
The fake note produces nowadays are using sophisticated technology and it has become difficult even for the rather conscious ones to identify a forged note. According to a media report, the currency forgers these days can turn an original 100 taka note into a 500 taka one by erasing the former’s printed line.
As a 100 taka note is almost the same size of a 500 taka one, it has become more difficult to identify the fake note, because it is now in original paper.      
The Bangladesh Bank has decided to give 200 currency detecting devices to FBCCI for using at key points. But this number is small compared to the need. It is more important to make it mandatory to keep such devices in all branches of commercial banks be they in the capital or in the rural areas. Of course everywhere where cash  transactions take place, such detection machines should be put into use. The idea is to maximize the application of these machines.
We sometimes notice central bank advertising features of genuine notes in newspapers; banks also display the basic qualities of genuine notes. But comparatively a small number of common people go to banks, and audience of electronic media is much larger than the print media. Therefore the awareness building programme must make most use of the electronic media.
Fake currency notes pose great danger to our economic security. Why this is so is obvious and hardly needs explanation. In the mid seventies the problem became so huge that the Bangladesh Bank had to demonetize all taka 500 notes. Before the present problem becomes a bigger one, it is expected the government would make all out efforts to get rid of this scourge for good.
The law enforcement bodies are doing not a bad job presently in finding out the fake note gangs. But it is very important that they should maintain and step up their vigil with no slag in their activities.

The law enforcement bodies are not doing a bad job presently in finding out the fake note gangs. But it is very important that they should maintain and step up their vigil with no slag in their activities

Threat posed by fake currency notes

Fake Bangladesh currency notes have again surfaced in the markets ahead of the Eid ul-Fitr. According to media reports, RAB and the detective branch of police busted several factories that produced such notes. But the law enforcers are of the opinion that many gangs, about 15 to 20, are still active in producing counterfeit notes in the capital city alone and a large number of such notes are already in circulation. This situation certainly demands that people are made fully aware of the distinctive features that separate the genuine notes from the fake ones. The fake note produces nowadays are using sophisticated technology and it has become difficult even for the rather conscious ones to identify a forged note. According to a media report, the currency forgers these days can turn an original 100 taka note into a 500 taka one by erasing the formers printed line. As a 100 taka note is almost the same size of a 500 taka one, it has become more difficult to identify the fake note, because it is now in original paper. The Bangladesh Bank has decided to give 200 currency detecting devices to FBCCI for using at key points. But this number is small compared to the need. It is more important to make it mandatory to keep such devices in all branches of commercial banks be they in the capital or in the rural areas. Of course everywhere where cash transactions take place, such detection machines should be put into use. The idea is to maximize the application of these machines. We sometimes notice central bank advertising features of genuine notes in newspapers; banks also display the basic qualities of genuine notes. But comparatively a small number of common people go to banks, and audience of electronic media is much larger than the print media. Therefore the awareness building programme must make most use of the electronic media. Fake currency notes pose great danger to our economic security. Why this is so is obvious and hardly needs explanation. In the mid seventies the problem became so huge that the Bangladesh Bank had to demonetize all taka 500 notes. Before the present problem becomes a bigger one, it is expected the government would make all out efforts to get rid of this scourge for good. The law enforcement bodies are doing not a bad job presently in finding out the fake note gangs. But it is very important that they should maintain and step up their vigil with no slag in their activities.